The University of California, Merced, has been designated a “doctoral-granting university with higher research activity” — or R2, the second-highest classification for American research universities — in its first appearance on the highly cited Carnegie Classification of Institutions of Higher Education.

The R2 classification recognizes UC Merced as a selective institution that awards more than 20 doctoral degrees, primarily in the fields of science, technology, engineering and mathematics (STEM).

NOTE: After receiving approval from two key committees Thursday morning, UC Merced’s 2020 Project was approved by the full Board of Regents on Thursday afternoon, in a vote that was initially scheduled for Friday. The following release was issued earlier today, after the vote by the Committee on Finance and the Committee on Grounds and Buildings.

UC Merced is rapidly rising among the nation’s top universities, as evidenced by the campus’s growing number of appearances on national and statewide “best schools” lists. As the campus celebrates its 10th anniversary this year and looks toward its next phase of growth, at least four revealing references have been noted from various sources.

Two recent accolades pertain to the practical value of a UC Merced education.

The University of California, Merced, directly invested nearly $170 million in the San Joaquin Valley economy over the past 12 months, according to the university’s annual Economic Impact Report released today (Oct. 13).

Regional investments since the campus began start-up operations in July 2000 now total $1.27 billion, the university reported. Statewide, UC Merced’s economic impact over the past 12 months amounted to $223 million, bringing its cumulative total to more than $2.4 billion.

Ten years ago, the University of California, Merced, opened its doors with 875 students, a handful of permanent buildings and high hopes for the first new UC campus in 40 years — and the first ever in the San Joaquin Valley.

Today, UC Merced enters its second decade of operation with a new high in student enrollment, a $1 billion expansion proposal in advanced stages of development, and a freshly minted strategic plan that promises to accelerate the university’s quest for academic and research distinction.